Utkarsh Small Finance Bank FD Rates

Features:

Some of the features of Utkarsh Small Finance Bank fixed deposit are:

• Earn high returns
• Senior citizens receive a higher rate of interest
• Payouts - month, quarterly, or at maturity
• Easily accessible online services 

Eligibility Criteria:

• A person who resides in India
• A Hindu person who is part of a joint family
• Any business registered with a sole proprietor
• Any business registered as a partnership
• Any business registered as a limited company
• A trust-account

Utkarsh Small Finance Bank Fixed Deposit Rates 2021

The Utkarsh Small Finance Bank FD Rates are as follows:

Utkarsh Small Finance Bank FD Rates for amounts less than Rs. 2 crores (w.e.f: 1st July 2021)

Utkarsh Small Finance Bank FD Rates for amounts from Rs. 15 lakhs to Rs. 2 crores without premature withdrawal (w.e.f: 1st July 2021)

Utkarsh Small Finance Bank FD Rates for Tax Saver Fixed Deposit (w.e.f: 1st July 2021)

*Fixed Deposit Interest rates are subject to change.

Utkarsh Small Finance Bank Fixed Deposit Rates - Things to Know

Some things to know about Utkarsh Small Finance Bank fixed deposit rates are:

• The least duration of the tenor is just seven days.
• The premature withdrawal penalty is 1% unless done before seven days. 
• Note that the interest rates given above are as per the latest updates. They may change from time to time. 
• The above rates are applicable for both new accounts and renewals. 
• The interest earned will have a tax deducted at the source component.
• For deposits above 180 days, interest rate calculation is compounded. For anything below that, the interest is simple. 
• The Tax Saver scheme has a fixed period of 5 years. 
• The minimum amount for the Tax Saver scheme is Rs. 1000, and the maximum is Rs. 150000.

Summing it Up

Utkarsh Small Finance bank provides several interesting options for fixed deposits. However, some fixed deposits do not allow premature withdrawal. They are known as Fixed Deposit Plus accounts. Finally, investing in fixed deposits also comes with tax-saving benefits. The scheme earns a high rate of interest on the principal amount that remains 0.5% higher for senior citizens.